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Famed financial analyst Richard X. Bove predicts the fall of the US economy and says China will take over as the money superpower in his final forecast ahead of his retirement: 'The dollar is finished as the world's reserve currency'
DAILY MAIL ^ | 29 January 2024 | LAURA PARNABY

Posted on 01/29/2024 9:51:30 AM PST by george76

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To: z3n

“China owns our trillions in debt”

Actually, as of Dec. 2023 China held $770 billion of our $34 trillion federal debt. Japan was the largest US debt holder at $1.1 trillion. China once held over $1 trillion but has been reducing its holdings of treasury debt.


21 posted on 01/29/2024 10:31:07 AM PST by Soul of the South (The past is gone and cannot be changed. Tomorrow can be a better day if we work on it now.)
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To: qaz123
This is who caused the 2008 financial crisis:

And you could have seen it coming from orbit as soon as Dodd-Frank was signed.

22 posted on 01/29/2024 10:34:23 AM PST by Alas Babylon! (Repeal the Patriot Act; Abolish the DHS; reform FBI top to bottom!)
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To: Alas Babylon!

Well the CRA signed by Carter was the foundation.

But those 2 POSs certainly nailed the coffin shut.

And to think, Soetero wanted to bring all of that crap back.


23 posted on 01/29/2024 10:38:28 AM PST by qaz123
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To: qaz123

I still remember my outrage at “Too big to fail.”

No, failing is exactly what those banks deserved, not rewarding their idiocracy!


24 posted on 01/29/2024 10:53:00 AM PST by Alas Babylon! (Repeal the Patriot Act; Abolish the DHS; reform FBI top to bottom!)
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To: george76

So his prediction is completely open ended with no time frame given.


25 posted on 01/29/2024 10:53:17 AM PST by Revel
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To: cgbg
It is going to be crashing China vs crashing US—a true race to the bottom. Exactly - but China and Europe will crash first, with China leading the overall charge.
26 posted on 01/29/2024 10:55:21 AM PST by politicket
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They're setting this crash to take place around 2026. Trumps second year and second term. They already have the Treasury market set to be pulled on Dec 31 2025
https://www.sec.gov/news/press-release/2023-247
27 posted on 01/29/2024 11:02:29 AM PST by Steve Van Doorn
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To: george76
I might be inclined to agree with this theory except for one thing. The US at least upheld the facade of sound financial management and honesty for many decades.

The Chinese are corrupt as hell and everyone knows it.

Therein lies the difference.
28 posted on 01/29/2024 11:06:55 AM PST by Antoninus (Republicans are all honorable men.)
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To: null and void; aragorn; EnigmaticAnomaly; kalee; Kale; AZ .44 MAG; Baynative; bgill; bitt; ...

p


29 posted on 01/29/2024 11:12:38 AM PST by bitt (<img src=' 'width=30%>)
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To: george76

Wilful Ignorance of Evil is a Luxury No One Can Afford
The Great Taking Takes EVERYTHING

https://elizabethnickson.substack.com/p/wilful-ignorance-of-evil-is-a-luxury?utm_source=post-email-title&publication_id=30495&post_id=141087029&utm_campaign=email-post-title&isFreemail=false&r=rc7fq&utm_medium=email

well worth reading


30 posted on 01/29/2024 11:13:04 AM PST by Aria
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To: george76

.


31 posted on 01/29/2024 11:35:01 AM PST by sauropod (The obedient always think of themselves as virtuous rather than cowardly.)
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To: Alas Babylon!

Interesting documentary on all of this.

Generation Zero Documentary (2010) https://www.youtube.com/watch?v=eCxHwyj6Hw0


32 posted on 01/29/2024 12:03:51 PM PST by qaz123
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To: george76

Thank you Joe Biden.

And thank you politicians in general for wasteful, and wholly irresponsible, gargantuan deficit spending.


33 posted on 01/29/2024 12:10:06 PM PST by TheConservator (Either the Deep State destroys America, or we destroy the Deep State!--President Donald Trump)
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To: george76

China is so screwed. They have no mechanism to come back in their Maoist economy. The US has mechanisms to bounce back when the junta is gone.

This clown is an attention whore.


34 posted on 01/29/2024 12:20:18 PM PST by HYPOCRACY (This is the dystopian future we've been waiting for!)
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To: george76

These pri##s have been against us from the beginning and need to be held responsible for their treasonous actions. They helped to get us here


35 posted on 01/29/2024 12:28:12 PM PST by ronnie raygun
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To: george76

I do think the US will collapse in the next 50 years. However, when I see predictions like these, my common sense tells me that China is probably going to collapse sooner in the next 10 - 20 years.


36 posted on 01/29/2024 12:42:14 PM PST by Codeflier (Don't worry....be happy )
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BFL


37 posted on 01/29/2024 1:00:14 PM PST by Faith65 (Isaiah 40:31 )
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To: george76

Horseshiiite

The US is the Last Man Standing.

Who is gonna step up?
Europe is done. Iran? Saudis?
China is dissolving, and geographically sucks, no energy, can’t feed itself.
Ruskies are held together by force, there is no “civil society”, and they have limited deep water access.
India smells, between floods and storms it geographically sucks, can barely feed itself, makes really bad code, and is “over there” with the other two about to fail states.
Africa offers nothing to anyone, but poor people, poor geographics, and endless downward pressure.

The EAST will collapse into tribal warfare. Let them.

We don’t need them, the Red Sea and Suez Canal, Saudi Oil, Chinese trinkets, Indian code, African people or diseases, or anything that’s left in what’s left of a collapsing Old Europe.

Narco Terrorists corruption and the resultant addiction, from Ushuaia to Prudhoe Bay, are our #1 issue, uncontrolled immigration is number 2. Wipe out the first, and with some planning, the 2nd will ease itself.

Western Civilization will live on here, in the Americas.
All of the Americas.

Take the Wipe Pill baby, you have no idea how good it is, and how bad it could actually be.


38 posted on 01/29/2024 1:02:48 PM PST by Macoozie (Roll MAGA, roll!)
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To: HYPOCRACY

China has many many problems.

But—if you look in the very long term (centuries) they have one thing going for them we do not.

They love their race.

They honor their race.

We slander and hate ours.


39 posted on 01/29/2024 1:03:17 PM PST by cgbg ("Our democracy" = Their Kleptocracy)
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To: PGR88

The markets already tell us that no body wants to invest in China.

Here is a chart of the Matthews China Fund:

https://www.google.com/search?q=matthews+china+fund&rlz=1C1CHBF_enUS977US977&oq=Matthews+China+Fu&gs_lcrp=EgZjaHJvbWUqCggAEAAY4wIYgAQyCggAEAAY4wIYgAQyDQgBEC4YxwEY0QMYgAQyBggCEEUYOTIHCAMQABiABDIICAQQABgWGB4yCAgFEAAYFhgeMggIBhAAGBYYHjIOCAcQLhgWGB4YxwEY0QMyCAgIEAAYFhgeMggICRAAGBYYHqgCALACAA&sourceid=chrome&ie=UTF-8

Unfortunately, dumb a$$ ME bought this piece of crap just after POTUS retard was elected. It topped out about 8 months later and has gone down ever since. It is bouncing around a five year low.


40 posted on 01/29/2024 1:04:09 PM PST by woodbutcher1963
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